Wednesday, November 29, 2006

Overcoming the Chinese unease28 Nov 2006Syed Nadzri THERE’S anxiety among the Chinese community. Even the money changers will tell you so. A close friend of Chinese origin told me he was at a currency exchange kiosk the other day when the man at the counter asked him: "What’s happening?

The Chinese seem to be cashing out the Malaysian ringgit for foreign currencies by the millions of late. The demand for foreign currencies has shot up by 10 times now. "What, I then asked my friend, has foreign money got to do with anxiety or restlessness among Malaysian Chinese? Oh plenty, he shot back. "It means they are looking at alternatives. They are sending more of their children to study abroad or they are investing and buying properties outside the country with a view to migrate if things get worse."

Mr Syed Nadzri Syed is currently the deputy group editor, and has been with NST since 1979. He will take over as another infamous NSTP-man as the group editor-designate on Dec 1.One would think that he would have enough wisdom and intelligence to connect this peak season at the money changers with the year end holidays, people travelling abroad and needing the foreign currency.

Lulu has never contemplated migration, but would think that a lot of thought, procedure and preparation would be required to migrate. It would not be an overnight decision to pack up and leave. Likewise if it were for the children's education abroad. Investing on property abroad? Unless you are like a certain recently made UMNO Senator who believes in carrying 2mil cash, you would be using lawyers and a bank to make that investment.

Syed Nadzri, your column started with a wrong premise, bringing about a misconception on the Chinese resilienceand loyalty.